Individuals gaining dominance in Dubai property market

Large developers are beginning to lose out to individual buyers and investors in the Dubai property market, it has been claimed.

Shuckri Bundakji of DSL Exhibitions, the organisers of the upcoming Resale and Rental Property Show, told Discover Dubai that it was "simply a matter of time" before supply and demand were determined by individuals prepared to buy property.

Consequently, these individuals have had a large influence on the behaviour of prices in the market, Mr Bundakji said.

DSL Exhibitions has seen a strong secondary market developing for property in Dubai at its last two shows and expects this trend to continue at this year's events.

The show was originally organised to cater for the secondary market, which features real estate brokers and individuals with an interest in trading in property.

A large community of expatriates currently lives in the United Arab Emirates and until a few years ago this group had been excluded from the secondary market.

However, the removal of restrictions has made a large contribution to the rise of the individual in the Dubai property sector.

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